Tax cuts and pandemic relief measures enacted during the Trump administration added $8.4 trillion to the national debt over the 10-year budget window, according to a study released Wednesday by a t…

Tax cuts and pandemic relief measures enacted during the Trump administration added $8.4 trillion to the national debt over the 10-year budget window, according to a study released Wednesday by a top budget watchdog group.

Discretionary spending increases from 2018 and 2019 added $2.1 trillion, Trump’s signature Tax Cuts and Jobs Act added $1.9 trillion and the 2020 bipartisan CARES Act for pandemic relief added another $1.9 trillion, the Committee for a Responsible Federal Budget (CRFB), a Washington think tank, found in a study released earlier this month.

“Of the $8.4 trillion President Trump added to the debt, $3.6 trillion came from COVID relief laws and executive orders, $2.5 trillion from tax cut laws, and $2.3 trillion from spending increases, with the remaining executive orders having costs and savings that largely offset each other,” budget experts with the CRFB wrote in a summary of the report.

The only significant deficit reduction enacted by the Trump administration noted in the report was due to tariffs levied on a variety of imported goods, which are calculated to have brought in $445 billion over 10 years.

  • Zuberi 👀@lemmy.dbzer0.com
    779·
    9 months ago

    And then Biden and the 1% said hold my fucking beer.

    The printing will continue regardless of which old man pretends to be in charge.

        • Dagwood222@lemm.ee
          333·
          9 months ago

          Those 100s of options had three years since the last election to mount candidates. I’m a well informed voter and I can’t name any of them. You can pretend that there are options besides the GOP and the Dems, but you’d only be fooling yourself.

          Trump is poison and Biden is the only other option. Deal with it.

            • Dagwood222@lemm.ee
              20·
              9 months ago

              I wish I had the privilege of being rich enough to not care about medical bills, or to be able to move if my state enacts terrible laws.

              Those of us who have to work daily and live in the real world know that half a loaf is a lot better than being kicked in the teeth by Trump.

              Back in the day, Frederick Douglas worked for candidate who couldn’t promise to free the slaves. I guess you consider him to be a sellout.

              • Zuberi 👀@lemmy.dbzer0.com
                435·
                9 months ago

                The illusion of choice for you must be very fulfilling to be defending it so vehemently.

                The rest of us will not vote for either Biden or Trump because that’s the morally correct thing to do.

                The DNC knows this, and has decided to sit on their ass (yet again), just like they did in 2016.

                • bluetoque@lemmy.caEnglish
                  252·
                  9 months ago

                  Speaking as a non-American who is forced to deal with your shit, the morally correct thing to do is to keep that fascist asshole out of power. Hold your nose if you have to, but vote for Biden. Have some fucking perspective. You are unbelievable.

                  • TexasDrunk@lemmy.world
                    142·
                    9 months ago

                    There are a bunch of these accounts preaching this. They talk a lot of shit about third parties, talk a LOT of shit about the DNC (deservedly), but ignore anything about the conservatives at all.

                    Some of them genuinely believe it’s the only path, and good for them. We need real dissent from people with real ideas. Some of them very obviously are trying to convince people not to vote Dem because it helps conservatives. It’s hard to tell who is a true believer vs who is being a dick without going through their comments and I just don’t have the energy for that. So it’s easier to assume they’re all astroturfing dicks and block them.

                    It’s not fair of me, but life ain’t fair and neither am I. If they really cared they’d post ideas instead of just “Always vote third party” while ignoring any point made by anyone.

                • Dagwood222@lemm.ee
                  20·
                  9 months ago

                  Nice way to avoid all my points and keep harping on the same tired line.

                  Like I said, Frederick Douglas know that the morally correct thing to do was make whatever change he could, not sitting on his butt.

                • kurwa@lemmy.world
                  101·
                  9 months ago

                  If you don’t vote, then you’re giving it to Trump, essentially voting for him.

                • grue@lemmy.worldEnglish
                  92·
                  9 months ago

                  Nobody’s defending the illusion of choice. Quit lying.

                  Also, the morally correct thing to do is NOT the one that helps the fascists win.

                • jordanlund@lemmy.worldM
                  61·
                  9 months ago

                  Voting for someone other than Biden will help ensure Trump gets elected and invoke the hellscape that follows.

                  Nobody else will chart between Trump and Biden. Detracting from Biden helps Trump.